A farmer in Egypt owns 20 acres of land. He is going to plant each acre with cotton or corn. Each acre planted withcotton yields $350 profit; each with corn yields $300 profit. The labor and fertilizer used for each acre are given in thetable below. Resources available include 200 workers and 150 tons of fertilizer.Labor(Workers)Fertilizer(Tons)CottonCorn4326Determine the maximum profit (Use Excel solver to find the answer).O $7,000O $8,000O $6,000O 9000

Detailed answer shown belowExplanation: this linear programming problem to find the optimal planting…

Answered: A farmer in Egypt owns 20 acres of…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 33P: Assume the demand for a companys drug Wozac during the current year is 50,000, and assume demand...

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If a monopolist produces q units, she can charge 400 4q dollars per unit. The variable cost is 60 per unit. a. How can the monopolist maximize her profit? b. If the monopolist must pay a sales tax of 5% of the selling price per unit, will she increase or decrease production (relative to the situation with no sales tax)? c. Continuing part b, use SolverTable to see how a change in the sales tax affects the optimal solution. Let the sales tax vary from 0% to 8% in increments of 0.5%.
Assume the demand for a companys drug Wozac during the current year is 50,000, and assume demand will grow at 5% a year. If the company builds a plant that can produce x units of Wozac per year, it will cost 16x. Each unit of Wozac is sold for 3. Each unit of Wozac produced incurs a variable production cost of 0.20. It costs 0.40 per year to operate a unit of capacity. Determine how large a Wozac plant the company should build to maximize its expected profit over the next 10 years.
Seas Beginning sells clothing by mail order. An important question is when to strike a customer from the companys mailing list. At present, the company strikes a customer from its mailing list if a customer fails to order from six consecutive catalogs. The company wants to know whether striking a customer from its list after a customer fails to order from four consecutive catalogs results in a higher profit per customer. The following data are available: If a customer placed an order the last time she received a catalog, then there is a 20% chance she will order from the next catalog. If a customer last placed an order one catalog ago, there is a 16% chance she will order from the next catalog she receives. If a customer last placed an order two catalogs ago, there is a 12% chance she will order from the next catalog she receives. If a customer last placed an order three catalogs ago, there is an 8% chance she will order from the next catalog she receives. If a customer last placed an order four catalogs ago, there is a 4% chance she will order from the next catalog she receives. If a customer last placed an order five catalogs ago, there is a 2% chance she will order from the next catalog she receives. It costs 2 to send a catalog, and the average profit per order is 30. Assume a customer has just placed an order. To maximize expected profit per customer, would Seas Beginning make more money canceling such a customer after six nonorders or four nonorders?
Please answer all parts A Rhino cement company owns two production plants. Plant 1 costs 20977 per day to operate, and it can produce 330 bags of high-grade cement, 475 bags of medium-grade cement , and 508 bags of low-grade cement each day. Plant 2 is newer and more modern. It costs 22570 per day to operate, and it can produce 435 bags of high-grade cement,271 bags of medium-grade cement, and 274 bags of low-grade cement each day. The company has orders totaling 24539 bags of high-grade cement, 25248 bags of medium-grade cement, and 33749 bags of low-grade cement. How many days should it run each plant to minimize its costs and still produce enough cement to meet its orders? What is the value of the first dual variable? What is the value of the second dual variable? What is the value of the third dual variable? What is the value of dual optimal solution z?
David Austin recently purchased a chain of dry cleaners innorthern Wisconsin. Although the business is making amodest profit now, David suspects that if he invests in a new press, he could recognize a substantial increase in profits.The new press costs $15,400 to purchase and install and canpress 40 shirts an hour (or 320 per day). David estimatesthat with the new press, it will cost $0.25 to launder andpress each shirt. Customers are charged $1.10 per shirt.a. How many shirts will David have to press to break even?b. So far, David’s workload has varied from 50 to 200shirts a day. How long would it take to break even on the new press at the low-demand estimate? at the high-demand estimate? c. If David cuts his price to $0.99 a shirt, he expects to beable to stabilize his customer base at 250 shirts per day.How long would it take to break even at the reducedprice of $0.99? Should David cut his price and buy thenew press?
During the year, Brownout Company experienced the following power outages:Number of Power Outages Per Month Number of Months 0 3 1 2 2 4 3 3 12Each power outage results in out of pocket costs of P400. For P500 per month, the company can lease an auxiliary generator to provide power during outages. If the company leases an auxiliarygenerator next year, the estimated savings (or…
Create spreadsheets and use Solver to determine the correct volumes to be produced to minimize cost for the following problem. Your company has two trucks that it wishes to use on a specific contract. One is a new truck the company is making payments on, and one is an old truck that is fully paid for. The new truck’s costs per mile are as follows: 54₵ (fuel/additives), 24₵ (truck payments), 36₵ (driver), 12₵ (repairs), and 1₵ (misc.). The old truck’s costs are 60₵ (fuel/additives), 0₵ (truck payments), 32₵ (rookie driver), 24₵ (repairs), and 1₵ (misc.). The company knows that truck breakdowns lose customers, so it has capped estimated repair costs at $14,000. The total distance involved is 90,000 miles (to be divided between the two trucks).
You are planning a vacation to Patagonia. You have a choice of 4 hotels at which to stay, and a choice of 3 different car rental companies to use. Patagonia offers 5 different day trips you can take. A vacation to Patagonia consists in selecting one hotel, one car rental company and 2 different day trips (the order doesn't matter). How many ways are there to plan your vacation? (A) 24 (B) 60 (С) 40 (D) 4 (E) 240 (F) 30 (G) 495 (Н) 120 OA OB В OD F OG OH
DONT SOLVE WRONG... SOLVE IF YOU ARE 5000% SURE Jaclyn is considering opening a location on campus to sell bubble tea. Her rent would be $500/month and she expects to sell each drink for $5. Variable costs are $0.85 and labor is $1.77. She also has the option to share space with a friend, which would cost her only $300/month in rent. Her friend wants $0.03 per bubble tea revenue sharing. What is Jaclyn’s new break-even point? If she sells 264 bubble teas, which option does she prefer? a. She prefers sharing space with her friend at Q=264. b. She is indifferent between the two choices at Q=264. c. She prefers working by herself at Q=264.
A poultry farmer in Lufyanyama has obtained a loan from the Bank to boost his poultry business. He provides you with data to help him optimize the sales. The data is that Old hens can be bought for K20 each but young one cost K50 each. The old hens lay 30 eggs per week, and young ones 50 eggs per week, each egg being worth 30ngwee. A hen cost K10 per week to feed. If a person has only K800 to spend on hens, how many of each kind should he buy to get a profit of more than K600 per week assuming that he cannot house more than 200 hens? a) Formulate the problem as a linear programming model b) Using the Big M – method, how many hens should he buy of each kind to maximize the profit per week? c) Identify the binding and non-binding constraints and justify your choice
Asilekpe Company Limited is considering constructing a borehole in the village of Adukofe. The construction would cost Gh₵2 million and there will be no cost of maintenance. The following table shows the company’s anticipated demand over the lifetime of the bridge: Price per gallon (Gh₵) Number of gallons 8 0 7 100000 6 200000 5 300000 4 400000 3 500000 2 600000 1 700000 0 800000 a. If the company were to construct the borehole what would be its profit-maximizing price? Would that be the efficient level of output? Explain your answer.b. If the company is interested in maximizing profit, should it construct the borehole? What would be its profit or loss?c. If the government were to construct the borehole, what price should it charge? d. Should the government construct the borehole? Explain.
A company manufactures two products. If it charges price pi for product i, it can sell qi units of product i,where q1 = 60−3p1 +p2 and q2 = 80−2p2 +p1. It costs $5 to produce a unit of product 1 and $12 to produce a unit of product 2. How many units of each product should the company produce, and what prices should it charge, to maximize its profit?

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